The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1887-11-19
CORNERING COAL OIL.

Not satisfied with the power toward
monopoly OF the corporation, which
combines the energy and wealth of
many men, we have OF late been taught
that this was only a step, and that the
crust a combination of corporations,
can GO still further in the direction of
banishing competition and consolidat-
ing monopoly. If these dangerous
devices of the capitalist class were only
directed toward articles of luxury ii
would not be so bad, but the reverse
is the case, and experience proves that
the necessities are chosen by them,
which is not unnatural, as these must
move despite %exorbitant prices. 1t is
true that most articles used by the mass
of the people have declined in value
commensurately with the augmented
value of money, but many of these
might be stih lower, with adequate
profit, were it not for these cOmbina-
tons. The coffee "combine" is an
instance; the undue advance in the
east Of the price of coal is another; and
now comes a 'sshut down. in the pro-
duclion of coal oil, 10 force up the
price of that essential commodity.
Concerning this movement of the oil
producers, which went into effect a
few days ago, the Oil City, Penn.
Derrick, an authority in oil matters,
recently contained this article:
THE most important deal ever consummated
In the history of the oil business was brought
to 3 head at d late hour last night. The ex-
ecutive and advisory boards of the producers
protective association held two sessions at
Arlington yesterday afternoon and last night,
and the great shut down or shut In Will go
into effect to-day. The Derrick makes the
announcement by authority Of the two boards
that all contracts were officially signed, and
nothing remains to be done but to carry out
the provisions of the contracts. What the
contracts are has not been officially stated,
but they contemplate shutting In for one year
half of the production, based on the gauges
of wells during June and August, and the
entire stoppage of drill for the same length
of time, No glycerIne is to be used in the
same time, and no wells are to be cleaned
out. The general feature Of the plan is that
the Standard Oil company has set 5000 900
barrels of oil, ut 62 cents o barrel. the profits
Of this to be divided among those producers
who shut in their wells and comply with all
terms of the contracts. In addition to this.t the
Standard and other producers havemade a pool
Of 25, COO. 900 barrels, the profit accruing from
which is to create a wage fund for labOring
men thrown out Of employment. Advices
from the producing fields last night were to
the effect that there would be a general shut
dow inaugurated to-day. MIR. Phillips
prolific pool in Butler county is to be COM
pletely bridled. In regard to Laconsburg,
the purchases made Yesterday of the Gusher
property may be taken as an indication that
the Producers Protective Association may
be able in a measure 10 control that field.
which is the only one not absolutely controll-
ed by the association. All the big producing
firms. both Standard and Independent, will
shut in their wells"
1t will be seen by a careful reading
of the above that the interests
of the consumer are entirely ignored,
and that the whole effort is to place the
entire petroleum product under the
control of the Standard Oil Company.
The inevitable tendency of all this is TO
advance the price of oils at an early
day, and for no good founded in
legitimate husiness necessities.